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Standard Chartered has unveiled Spothandel for Bitcoin and Ethereum for its institutional customers. The growing institutional support can continue to cement crypto as a legitimate activa class.
Standard Chartered has become the first global Tier-1 bank giant to reveal Bitcoin [BTC] And Ethereum [ETH] Spot trade for its institutional customers.
In a statement, the company said That trade will take place within his Forex Trading Platform.
“The trading offer is fully integrated with the existing platforms of Standard Chartered, so that institutional customers can access and cryptoassets to trade via well -known FX interfaces.”
The company added that the move makes it the “first worldwide systemically important bank” to offer a wide range of crypto-asset-trading support for companies, investors and asset managers.
It would also soon add derivatives for the crypto assets, allowing traders to speculate and cover at price action without directly having the underlying asset.
Standard Chartered Doubles Down on Crypto
The bank already has Crypto offers through subsidiaries Zodiah Markets and Zodiabvoogij. Zodia -markets can even trade users more than 70 crypto assets. Bill Winters, Chief Executive, praised the new offer as “make new paths possible for innovation” and great inclusion. He added,
“As the customer’s demand further speeds up, we want to offer customers a route to safely and efficiently transact, act and manage the digital activity within the legal requirements.”
Crypto -markets have seen incredible integration with traditional financial (tradfi) since the beginning of 2024.
In January 2024, the US approved the first place BTC ETFs (listed funds), which means that the sector entrenched further in the mainstream. In July, the United States approved Spot ETFs, with the country now expected to make various Altcoin ETFs green and use it in 2025.
In response, other areas of law such as Hong Kong followed, where the UK tried to offer a clear regulatory framework and similar products.
Since the approval of Spot BTC ETFs, the products have now mastered $ 150 billion in net assets, with the total crypto market also doubling. In fact tThe market size has risen from $ 1.6 trillion to $ 3.7 trillion, just an inch of $ 4 trillion.
About half of the market is in BTC ($ 2.36 trillion) and underlines it as an important interest in retail and institutional investors.
Source: Coinmarketcap
That said, the movement of Standard Chartered could tip other rivals, such as Citi, Goldman Sachs and HSBC. In fact, some wire houses such as JP Morgan now support BTC ETFs and as a loan.
Such a growing institutional acceptance could further support crypto as a legitimate activa class.